>> Bayer has finally won over Monsanto. On Wednesday announcing, it's sealed the biggest takeover deal of the year for roughly $66 billion after months of wrangling. It took three bids for the German drug company to officially tie the knot with the American agrichemical giant. The winning offer, a 20% premium to Monsanto's stock price, at Tuesday's market close.
The deal would create a mammoth multinational, controlling one fourth of the world market for seeds and pesticides. A sort of, full service shop for farmers. Commonly known for its medicine chest items, Bayer also has the world's second largest crop chemicals business behind Syngenta, which itself fended off a bid from Monsanto before being bought by China state owned ChemChina.
Lots of consolidation in the agrochemical business. US giants Dow Chemical and Dupont planning to merge, and spin off their seeds and crop chemicals operations into a separate business. The Bayer Monsanto tie up, maybe, a headache for antitrust regulators who still have to approve the deal. But for now, shares of both companies rising on the news.